10 things you need to know before European markets open

A man wearing a mask and dressed in a clown costume rides an electric tricycle while carrying a container in the shape of a rubber duck amid heavy smog in Beijing, China, December 29, 2015. REUTERS/Jason Lee Good morning! Here's what you need to know.

Storms are causing a lot of expensive damage to the UK. PwC raised its estimate of insured losses from UK Storms Desmond and Eva to £900 million and said Storm Frank, currently hitting parts of Britain, could take total losses above £3 billion.